Dear CIGAs,
Looking at yesterday’s 1950s comment on the cost of food reminds me of when Barbara and I turned 50.
Barbara arranged a 50s party, breaking out her poodle skirt and sweater. I asked Barbara what I should wear to the party. She took me by the arm and walked me to a floor length mirror. She said "that should answer my question."
Nothing changes
Jim Sinclair’s Commentary
The following is the Maximus Opus for instructions on trading.
Jim Sinclair’s Commentary
Rolling Stone has done it again.
Click here to view the article…
Jim Sinclair’s Commentary
My daughter is paying up, of course, if the refuge approves me.
"We shall raise up our glasses against evil forces crying whiskey for me men, beer for me horses."
![clip_image001[1]](http://jsmineset.com/wp-content/uploads/2011/04/clip_image00115.jpg "clip_image001[1]")
Jim Sinclair’s Commentary
I would like to wishing all my friends peace over the upcoming holiday weekend.
Jim Sinclair’s Commentary
With regards to media coverage, lowering an outlook is not "lowering an outlook," it is making a warning.
You have to love MOPE. Somebody forgot to tell the New York Times the line of spin.
S.&P. Lowers Outlook for U.S., Sending Stocks Down
By CHRISTINE HAUSER
Published: April 18, 2011
The United States has long had a sterling credit report from ratings agencies because of the global preference for the dollar. But the latest deficit gridlock in Washington may have taken some of the luster off the reputation of the world’s largest economy and its currency.
On Monday, the ratings firm Standard & Poor’s lowered its outlook on the United States rating to negative. Although the agency did not actually lower its highest AAA rating on the country’s debt, it was the first time since the S.& P. started assigning outlooks in 1989 that the country was given an outlook that was something other than stable.
While it had not been completely unexpected, the S.& P. decision shifted the nation’s deficit debate out of the political arena — at least for the day — and thrust it on Wall Street. The action spooked investors, sending the three main stock indexes down more than 1 percent.
Treasury yields, or the interest rate that the country pays on its debt, spiked immediately after the announcement. Since the United States owes more than $9 trillion in outstanding debt to the public, even a one-tenth of a percent increase could potentially add billions to the deficit over time.
A lower credit rating for the government could also end up hurting consumers in the pocketbook since Treasury yields also affect rates on consumer loans, particularly mortgages.
Jim Sinclair’s Commentary
This is what it looks like to get hit in the head by a BRIC. Things have certainly changed with changing economics.
China, Russia And India Block Libya Sanctions
Tim Marshall April 17, 2011 6:27 PM
The British and French governments want more UN sanctions against Libya but are being blocked by China, Russia and India.
Sky News sources in New York say that among a range of extra measures sought is a proposal to add Libyan state TV to the list of Libyan companies with which it would become illegal to do business. The two governments argue that state TV is aiding the Gaddafi war aims by broadcasting propaganda.
Libyan TV is partially broadcast via satellite companies Arab Sat, Nile Sat and Euro Sat. If it was listed, they could no longer accept payments from Tripoli. That might encourage the companies to consider whether to continue to carry the Libyan TV signal.
China, Russia and India have all called for Nato’s bombing campaign against Libya to stop.
Sky News also understands that within Nato, the Americans, British and France are debating with other countries to see if the list of military targets in Libya can be widened.
Jim Sinclair’s Commentary
A downward spiral that fails to experience intervention at the point of what caused it in the first place continues to zero.
Despite recent bold MOPE to the contrary on revenue, the Formula of 2006 marches on.
States see biggest revenue drop in 60 years
By JENNIFER EPSTEIN | 1/6/11 2:42 PM EDT
In a sign of the sluggish economy’s devastating impact, state government revenue across the country dropped by nearly one third in 2009 – the sharpest decline in 60 years, the Census Bureau said in a new report.
States saw record-breaking losses to their pension funds and in their tax revenues, as the recession wreaked havoc on payrolls and investments,.
Revenues plummeted by 30.8 percent, from $1.6 trillion in 2008 to $1.1 trillion in 2009, according to the report.
It was the most dramatic drop the Census Bureau has seen since it began collecting state revenue data in 1951.
States reported a total $477 billion drop in “insurance trust revenue” – mostly money from pension funds, while tax collections fell by $66 billion.
And the worst may still be to come.
Fiscal 2012 “will actually be the most difficult budget year for states ever,” said Nicholas Johnson, director of the state fiscal project at the Center on Budget and Policy Priorities, in an interview with The Washington Post.
The center reported last month that states will see budget shortfalls totaling more than $140 billion next year as they continue to wrestle with depressed revenue levels while federal stimulus dollars and reserves run out.
